Stocks in Asia Pacific were little changed in Wednesday afternoon trade, as Chinese inflation data for May missed expectations.
Elsewhere, the S&P/ASX 200 in Australia trade slightly higher.
Overall, the MSCI Asia ex-Japan index added 0.19%.
In economic data, China’s inflation data for May missed expectations. Its producer price index for May fell 3.7% from a year earlier, according to China’s National Bureau of Statistics. That was a larger decline that the 3.3% fall expected by analysts in a Reuters poll. Meanwhile, its consumer price index rose 2.4% year-on-year in May, less than a 2.7% increase estimated by economists in a Reuters poll.
Investors now await the release of the U.S. Federal Reserve’s economic forecast, expected on Wednesday stateside.
Overnight on Wall Street, the Nasdaq Composite rose 0.29% to hit a record close of 9,953.75. Meanwhile, the Dow Jones Industrial Average dropped 300.14 points, or 1.09%, and snapped its six-session winning streak to close at 27,272.30. The S&P 500 slipped 0.78% to finish its trading day at 3,207.18.
Oil prices drop
Oil prices dropped in the afternoon of Asian trading hours on Wednesday, with international benchmark Brent crude futures down 1.6% to $40.52 per barrel. U.S. crude futures also fell 2% to $38.16 per barrel.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 96.336 after dropping from levels around 97 yesterday.